Transmissions for low horsepower applications transmit mechanical power from a prime mover, such as an engine or electric motor, to some form of useful output device, normally rotary in form, and generally at a reduced rate of angular speed but at a higher motive torque. Unlike regular transmissions, however, transmissions for low horsepower applications typically operate with engines and electric motors varying in power from fractions of one horsepower to approximately 20horsepower. Existing low horsepower transmissions do not economically provide more than a single speed, i.e., either high/low speeds, or more than a single drive direction, i.e., forward/reverse drives. A need exists for a low cost, improved low horsepower transmission that provides high/low speeds as well as an improved transmission that provides forward/reverse drives.